Revelator Unveils New Decentralized Protocol for Music Rights
After several wildly successful pilots involving both publishing and performing rights, Revelator is opening up its extensive customer base to the benefits of decentralized tech/blockchain.
The system will be the most advanced B2B layer of its kind for music and will enable millions of dollars to flow directly to rightsholders’ non-custodial wallets, the company affirms. And unlike other visionary blockchain and NFT solutions, this one actually exists.
Though artists and rightsholders will reap the benefits of an innovative decentralized system, (lightning-fast payments, better IP management via smart contracts, and instant micro-advances), they will discover Original Works Wallets are remarkably simple to navigate. No MetaMask accounts or complicated multi-step processes are involved; Original Works’ Wallet feels a lot like payment and social apps musicians already use every day.
This is by design; Guez knows cool tech is pointless if artists, labels, and rightsholders can’t or won’t adopt it. “The working options out there are too niche, too limited, or too complicated,” explains Relevator founder and CEO, Bruno Guez. “Most musicians and labels aren’t crypto purists and they aren’t about to go deep into the tech. They just want things to work so they can make music.”
Original Works allows rightsholders to register and tokenize their creative intellectual property. They can then use the Wallet to manage metadata, assign splits, request or send payments, and collect daily on royalty streams.
Thanks to these income streams, Wallet users can secure real-time financing and transfer their Wallet balance to crypto or fiat currency accounts (including PayPal).
They can also create smart contracts to streamline licensing of audio or audio-visual assets — a combination of key activities no other platform offers. “You can do everything a rights holder or artist needs to do, from one app, on your phone or laptop,” says Guez.
Guez should know; he and his team have years of data on the music ecosystem and the processes that dominate its business side.
Guez knows the stumbling blocks and pain points rights holders face, thanks to his industry-leading work with thousands of rightsholders, CMOs, and other stakeholders. Revelator created the first copyright API with Polaris, powers numerous services for Soundrop and Identity Music to Freeme Digital, and helps major management agencies and UGC media companies gather and analyze their streaming data and pay out royalties.
Built on that foundation, Original Works makes blockchain work for music, not music work on blockchain.
While the road to decentralized, peer-to-peer music business apps is littered with great ideas — from the ICOs of the past to the current fascination with NFTs and DAOs — Revelator has built something real and useful.
“There are a lot of inspiring visions floating around for how to make music benefit from decentralized protocols, and there have been many attempts to implement them for digital music assets,” Guez notes. “However, no one has managed what we have at the scale we have, with proven and tested technology and with a truly easy to use UI.”
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